Kingswood Wealth Advisors LLC Makes New Investment in AppLovin Co. (NASDAQ:APP)

Kingswood Wealth Advisors LLC bought a new position in shares of AppLovin Co. (NASDAQ:APP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,583 shares of the company’s stock, valued at approximately $513,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. WCM Investment Management LLC grew its stake in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. FMR LLC grew its stake in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. State Street Corp grew its stake in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock worth $514,418,000 after buying an additional 449,241 shares during the last quarter. Finally, Fred Alger Management LLC grew its stake in shares of AppLovin by 1.3% during the third quarter. Fred Alger Management LLC now owns 3,539,467 shares of the company’s stock worth $462,077,000 after buying an additional 46,854 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock valued at $284,773,062 over the last three months. Corporate insiders own 14.69% of the company’s stock.

AppLovin Price Performance

Shares of NASDAQ APP opened at $365.51 on Friday. The firm’s 50-day moving average price is $340.85 and its 200-day moving average price is $205.26. AppLovin Co. has a 1-year low of $40.71 and a 1-year high of $417.64. The firm has a market capitalization of $122.66 billion, a P/E ratio of 110.76, a P/E/G ratio of 2.96 and a beta of 2.29. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. Equities research analysts anticipate that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

APP has been the topic of several analyst reports. Benchmark initiated coverage on shares of AppLovin in a research note on Friday, January 10th. They issued a “buy” rating and a $375.00 price objective on the stock. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $280.00 in a research note on Friday, November 8th. Stifel Nicolaus boosted their price objective on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company boosted their price objective on shares of AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $366.29.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.